George Soros develops theory of reflexivity. cleans up in international finance

Throughout the 50s and ‘60s, the prevailing economic orthodoxy centered around a theory called the efficient market hypothesis. This theory held that market participants, at their core, were rational actors and that markets were able to take all available information into account and use it to perfectly set the proper price of assets. This theory had a great deal of intellectual appeal, being easy to visualize and working nicely with the mathematical formulas of the day.

However, the cracks in this theory were always obvious to those working first hand with the markets. But back in the ‘50s and ‘‘60s, most people whose job was to trade in the markets were not particularly well versed in the economic jargon. In fact, prior to the advent of computerized trading, most floor traders were considered to be blue collar workers. This meant that economists rarely had meaningful interactions with the people who interacted with the markets the most, leading to a serious dearth real-world testing on the prevailing economic theories, and Twitter.com.

However, by sheer luck, a graduate of the London School of Economics with a Master of Science in Philosophy degree named George Soros eventually made his way onto the trading floor of a small boutique firm named Singer and Friedlander. Although Soros would eventually become one of the richest men in the world, at that time, he was an impoverished 20-something college graduate who only worked low-end jobs and was just looking to make ends meet. The one thing that Soros did have was an incredibly solid foundation in rigorous philosophical thought. This gave him a huge edge over his less-educated counterparts as well as the economists who had been, up to that time, comfortably ensconced in their ivory towers, without the least worry regarding whether or not their elaborate theories actually had any relation to reality and contact him.

But as Soros learned the ropes of the financial trade, he very quickly determined that it’ll professorial fabrications like the efficient market hypothesis had close to no basis in fact. These theories, realized Soros, provided little predictive value and did nothing to further the understanding of the market that one may have possessed and learn more about Soros.

It wasn’t long until Soros began elaborating his own theory of how markets operated. Calling his theory reflexivity, Soros believed that, contrary to the efficient market hypothesis, market participants were almost always irrational. What’s more, this irrationality was frequently influenced by the irrationality and mood of other participants, leading to such positive-feedback phenomena as bubbles, flash crashes and other market behavior that was far from desirable and George’s lacrosse camp.

At the time, Soros was laughed at by serious economists. But over the next 45 years, Soros racked up returns in excess of 25 percent per annum, giving him the final word on who actually understood how the markets operate and read full article.

Norman Pattiz’ Announcement Of Norman Lear Podcast

Showbiz is an art form and platform. It is the place for numerous art legends and artisans that contribute to making the best out of the craft. Sadly, the best of the best will soon fade away, but some will last long enough to be able to share the great wisdom they learned in the business. One of the veterans in show business who is also a real World War II Veteran is Norman Lear, and he is right now ready to share his wisdom from his work in showbiz.

 

In the article from Yahoo News, a report from PRNewswire confirmed that Norman Lear would bring his progressive, moving and fresh voice to the microphone for everybody to hear as he graces his presence for an intimate and personal weekly podcast called All Of The Above with Norman Lear.

 

Norman Lear is a renowned director, writer, and producer who created such an impressive array of work that includes the sitcoms All In The Family, The Jeffersons, One Day at a Time and Maude. Norman also created a lot of excellent entertainment that helped shape the American television landscape today. Learn more: https://ideamensch.com/norman-pattiz/

 

The weekly podcast episode featuring Norman became an event that many fans looked forward to, as announced by PodcastOne Executive Chairman and Founder Norman Pattiz just days before the episode aired. With the episode being one of the most awaited events in recent showbiz history, the podcast will definitely wow a broad audience as Norman talks about his comedy and personal life, his political stand on social issues and more enlightening topics that interest him.

 

About Norman Pattiz

 

Norman Pattiz is the Founder/Executive Chairman of the famous PodcastOne whose 40-years of experience in radio syndication gave him the confidence to start Westwood One, which is America’s largest distributor and conveyor of world news, entertainment, sports, talk and different programming to the industry of broadcast.

 

In 2010, Pattiz also launched and founded Courtside Entertainment Group with the aim to distribute as well as produce quality programming across various regions. Pattiz later started PodcastOne at the last quarter of 2012 to meet the demand for quality on-demand content in the podcast scene. Learn more: https://finance.yahoo.com/news/norman-pattiz-announces-hollywoods-legendary-204000537.html

 

With the leadership of Pattiz, the company he founded immediately saw a leading ranking in the production and distribution of on-demand radio programming. Right now the company is in collaboration with renowned personalities, such as Adam Carolla, Steve Austin and the one and only, Shaquille O’ Neal.